Have conversations with your bookkeeper about how matters are going. You don’t want to know all the fine details of doing the numbers entry and reconciliations; however, you need to be able to examine your profit & Loss declaration and Balance Sheet at a simple level to know how things are going. In case your bookkeeper can’t provide you with this information accurately and in a well-timed manner, there can be something incorrect. In case you are registered for VAT, you simply need to be a tax expert, not only a bookkeeper. A bookkeeper must hold a positive level of training and experience, professional indemnity coverage, continuing expert education, and comply with a code of conduct. A bookkeeper who isn’t always a registered VAT Agent cannot promote it that they provide VAT offerings, and this includes putting in accounting software program and determining default VAT codes, statistics entry, and reconciliations to determine a VAT legal responsibility, filling in activity statements, and ascertaining withholding responsibilities. Is your bookkeeper pre-emptive? Outstanding movement is something that’s been coming for quite a few months. Has your bookkeeper informed you approximately about your obligations? Have they assisted you to turn out to be
Mark Carney, the chief of Bank of England stated that almost 15 million of the existing jobs in Britain could be automatized in a period of time, this includes a lot of professions including accounting in its entirety. In response to the statement by Mr. Carney, John Williams, the head of ACCA (Association of Chartered Certified Accountants) cited: “When it comes to automation having a big impact on automating the profession of accounting, Mr Carney stands correct. However, I cannot agree with the belief that the ‘rise of robots’ indicates towards the end of accounting. If artificial intelligence really indicated towards the end of accountants, it would also indicate the end of central bankers! “The robotic process automation is basically referring to a software that is written in order to perform process that are repetitive, as well as interacting with several applications, all of this is done under the control of a human manager. It is only natural step in the evolution of how finance changes, but it is neither good when it comes to creating relationships, nor it has the ability to replace the systems or the staff. “As of the now, the profession of accounting is facing a
No matter how difficult it is to confirm it, but there have been statements in the past that state that 80 percent of the data in the world has been created in just past 2 years. The way data has developed has changed our lives, however, not in the way we are serving as consumers. The time of big data is also playing how a business operate, allowing the business runners to have a lot more insight to their customer than it was possible before. Apart from the customers, the same rule is applying to the suppliers, as well as their business partners and their own business operations. It is safe to say that when it comes to big data, we have barely scratched the surface as far as the advantages that big data provides to a business is concerned. The technology and analytics software are giving a new high to a person’s ability to tap into information. As a common example, it is like creating an engine that is a lot more powerful than what the world has seen, however, at the same time, the remaining vehicle must be ready to have that engine installed in it, in order
According to the announcement made by UAE Ministry of Energy, the fuel prices have been reduced for the entire month of December. Starting from 1st December, the Super 98 will be priced at Dhs1.8 per liter, this is a 5.26 percent down from the price in November which was Dhs1.90. As for the Special 95 it will now cost Dhs1.69, that is a 5.6 percent from the previous Dhs1.79, lastly the E Plus will now cost Dhs1.62, instead of the 1.72, seeing an overall 5.8 percent decline. UAE Ministry of Energy also cut down the cost of diesel to an impressive Dhs1.81 from the Dhs1.91 back in November, representing a 5.2 percent decline. The prices of oil are expected to rise globally mainly because the OPEC member countries are coming closer to deal that will cut the production. There has been a 7 percent jump in Brent Crude Futures, making each barrel cost around $50, the jump happened after Khalid al-Falih, the Saudi Energy Minister made a statement about how the kingdom is prepared to take a “big hit” on the production of oil.
Thanks to the rapid investments, launches, as well as the meetings that took place over the last 30 days, November 2016 could be considered as the cusp for UAE’s unfledged e-commerce section. The billionaire chairman of Emaar Properties, Mohamed Alabbar, is a man who has been acquiring some initial experience in retail, has become the reason behind all of these investments, thanks to his new motto, “you’re digital or you die”. Mohamed Alabbar announced the launch of Yoox Net-a-Portrer (YNAP) on Monday, for those wondering, YNAP is basically a luxury e-commerce platform for the Middle East, the launch was the result of a deal closed on WhatsApp. It also became known that Saudi Arabia’s Public Investment Fund was looking into buying a stake in Adeptio, the famous investment group that is being led by Mohamed Alabbar, the investment group made an impressive US$2.4 billion deal back in June in order to get the control of Kuwait Food Co, that is also known as Americana. The Middle Eastern fast food franchises of KFC and Pizza Hut are owned by this company, and it is also known for producing some of the branded consumer foods. All of this took place after Mohamed